Hercules Capital Announces its 53rd Consecutive Quarterly Distribution of $0.31 per Share for the Third Quarter of 2018

Company Release - 11/1/2018 4:12 PM ET

53rd Consecutive Quarterly Distribution
Bringing Cumulative Distributions to $14.95 per Share since IPO in June
2005

PALO ALTO, Calif.--(BUSINESS WIRE)--
Hercules
Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), the
leading specialty finance company to innovative, venture growth, pre-IPO
and M&A stage companies backed by leading venture capital firms, is
pleased to announced that its Board of Directors has declared a third
quarter 2018 cash distribution of $0.31 per share. The following shows
the key dates of our third quarter 2018 distribution payment:

Record Date

November 12, 2018

Payment Date

November 19, 2018

Hercules' Board of Directors maintains a variable distribution policy
with the objective of distributing four quarterly distributions in an
amount that approximates 90% to 100% of the Company’s taxable quarterly
income or potential annual income for a particular year. In addition,
during the year, the Company’s Board of Directors may choose to pay
additional supplemental distributions, so that the Company may
distribute approximately all its annual taxable income in the year it
was earned, or it can elect to maintain the option to spill over the
excess taxable income into the coming year for future distribution
payments.

The determination of the tax attributes of the Company's distributions
is made annually as of the end of the Company's fiscal year based upon
its taxable income for the full year and distributions paid for the full
year. Therefore, a determination made on a quarterly basis may not be
representative of the actual tax attributes of its distributions for a
full year. Of the distributions declared during the quarter ended
September 30, 2018, 100% were distributions derived from the Company’s
current and accumulated earnings and profits. There can be no certainty
to stockholders that this determination is representative of what the
tax attributes of the Company’s 2018 distributions to stockholders will
be.

About Hercules Capital, Inc.

Hercules Capital, Inc. (NYSE: HTGC) (“Hercules”) is the leading and
largest specialty finance company focused on providing senior secured
venture growth loans to high-growth, innovative venture capital-backed
companies in a broad variety of technology, life sciences and
sustainable and renewable technology industries. Since inception
(December 2003), Hercules has committed more than $8.2 billion to over
440 companies and is the lender of choice for entrepreneurs and venture
capital firms seeking growth capital financing. Companies interested in
learning more about financing opportunities should contact info@htgc.com,
or call 650.289.3060.

Hercules’ common stock trades on the New York Stock Exchange (NYSE)
under the ticker symbol “HTGC.” In addition, Hercules has five
outstanding bond issuances of 6.25% Notes due 2024 (NYSE: HTGX), 4.375%
Convertible Notes due 2022, 4.625% Notes due 2022, 5.25% Notes due 2025
(NYSE: HCXZ) and 6.25% Notes due 2033 (NYSE: HCXY).

Forward-Looking Statements

This press release may contain “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995. You
should understand that under Section 27A(b)(2)(B) of the Securities Act
of 1933, as amended, and Section 21E(b)(2)(B) of the Securities Exchange
Act of 1934, as amended, or the Exchange Act, the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995 do
not apply to forward-looking statements made in periodic reports we file
under the Exchange Act.

The information disclosed in this press release is made as of the date
hereof and reflects Hercules’ most current assessment of its historical
financial performance. Actual financial results filed with the SEC may
differ from those contained herein due to timing delays between the date
of this release and confirmation of final audit results. These
forward-looking statements are not guarantees of future performance and
are subject to uncertainties and other factors that could cause actual
results to differ materially from those expressed in the forward-looking
statements including, without limitation, the risks, uncertainties,
including the uncertainties surrounding the current market volatility,
and other factors the Company identifies from time to time in its
filings with the SEC. Although Hercules believes that the assumptions on
which these forward-looking statements are based are reasonable, any of
those assumptions could prove to be inaccurate and, as a result, the
forward-looking statements based on those assumptions also could be
incorrect. You should not place undue reliance on these forward-looking
statements. The forward-looking statements contained in this release are
made as of the date hereof, and Hercules assumes no obligation to update
the forward-looking statements for subsequent events.